Crude oil futures fall to Rs 8,497 per barrel on weak global cues

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Crude oil prices fell by Rs 104 to Rs 8,497 per barrel in the futures trade on Thursday amid weak global trends.

On the Multi Commodity Exchange, crude oil futures for September delivery slipped by Rs 104, or 1.21 per cent, to Rs 8,497 per barrel in a business turnover of 7,393 lots.

Analysts said the prices fell after participants offloaded their holdings amid weak demand in the spot market.

Globally, West Texas Intermediate crude was trading 1.05 per cent lower at USD 90.05 per barrel, while Brent crude declined 1.16 per cent to USD 94.52 per barrel in New York.

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